36,614 Shares in GigaCloud Technology Inc. $GCT Bought by Inspire Investing LLC

Inspire Investing LLC purchased a new stake in shares of GigaCloud Technology Inc. (NASDAQ:GCT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 36,614 shares of the company’s stock, valued at approximately $1,040,000. Inspire Investing LLC owned about 0.10% of GigaCloud Technology at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. boosted its position in shares of GigaCloud Technology by 17.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,705 shares of the company’s stock valued at $54,000 after purchasing an additional 405 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in GigaCloud Technology by 25.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock valued at $47,000 after buying an additional 483 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of GigaCloud Technology by 5.6% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 10,945 shares of the company’s stock worth $217,000 after buying an additional 585 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in shares of GigaCloud Technology by 31.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,209 shares of the company’s stock worth $123,000 after buying an additional 1,489 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in shares of GigaCloud Technology in the 2nd quarter valued at $35,000. 34.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GCT has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of GigaCloud Technology in a research note on Monday. Wall Street Zen raised shares of GigaCloud Technology from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Finally, Zacks Research raised GigaCloud Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

GigaCloud Technology Price Performance

Shares of NASDAQ GCT opened at $40.19 on Friday. The company has a 50-day moving average price of $34.34 and a 200-day moving average price of $28.27. The stock has a market capitalization of $1.49 billion, a P/E ratio of 12.03 and a beta of 2.28. GigaCloud Technology Inc. has a 1 year low of $11.17 and a 1 year high of $43.85.

GigaCloud Technology (NASDAQ:GCT) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.34. The business had revenue of $332.64 million for the quarter, compared to analysts’ expectations of $300.96 million. GigaCloud Technology had a net margin of 10.62% and a return on equity of 30.43%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 EPS. As a group, equities research analysts anticipate that GigaCloud Technology Inc. will post 3.1 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Xinyan Hao sold 100,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $35.18, for a total transaction of $3,518,000.00. Following the completion of the sale, the chief operating officer owned 407,486 shares in the company, valued at approximately $14,335,357.48. This represents a 19.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 360,000 shares of company stock worth $12,049,792 over the last 90 days. 24.71% of the stock is owned by insiders.

GigaCloud Technology Company Profile

GigaCloud Technology Inc (NASDAQ:GCT) is a China-based provider of software-as-a-service (SaaS) and cloud computing solutions tailored for cross-border e-commerce. The company’s core offering, its Supply Chain Embedded E-commerce as a Service (SCEaaS) platform, integrates procurement, order management, warehousing, logistics and payment services into a unified cloud-based system. This end-to-end digital supply chain solution is designed to help small and medium-sized Chinese exporters efficiently connect with global buyers without the need to build and maintain their own infrastructure.

Through its modular, subscription-based SaaS model, GigaCloud enables merchants to scale operations on demand and minimize upfront capital expenditures.